In a surprising turn of events, the scammer responsible for the recent theft of over $71 million worth of wrapped Bitcoin (WBTC) has initiated the refund of a portion of the stolen funds to the victim.

The scammer, believed to have executed an “address poisoning” attack, stole 1,155 WBTC from the victim before selling the entire loot for 22,960 ETH. This ETH was then dispersed across multiple addresses, presumably for obfuscation and money laundering purposes.

Victim Receives ETH Refunds

Following the theft, the victim began receiving ETH transfers from the attacker, signaling a potential negotiation between the two parties. The attacker initially reached out to the victim via an on-chain message, requesting a Telegram address. Alongside this message, a transfer of 51 ETH ($152,000) was made.

Significant Return of Stolen Funds

Security firm PeckShield reports that the attacker has transferred a total of 11,446.87 ETH ($34.7 million) back to the victim’s address, constituting approximately 50% of the stolen funds. This unexpected development offers a glimmer of hope for the victim and underscores the complexity of cybercrime negotiations.

The identity of the Attacker Remains Elusive

Despite ongoing investigations, the identity and location of the hacker remain undisclosed. While SlowMist‘s threat intelligence network identified several IPs suspected to be associated with the hacker, originating from Hong Kong, the possibility of VPN usage complicates efforts to pinpoint the attacker’s true identity.

The saga of the $71 million WBTC theft and subsequent refund highlights the evolving landscape of cryptocurrency-related crimes and the challenges faced by security firms in tracking and apprehending cybercriminals.

Bitcoin’s price soared on Tuesday morning, reaching a two-week high above $64,000 (£48,906), marking a significant uptrend in the cryptocurrency’s value.

Bitcoin Hits $64,000 Mark

At 8:50 am in London on Tuesday, Bitcoin surged 8.2% to $64,001.77, hitting a two-week high against the dollar. This increase in value also propelled Bitcoin’s market capitalization back above $1 trillion.

Recovery from Recent Pullback

The rally in Bitcoin’s price comes as the cryptocurrency recovers from a recent pullback. In late February, Bitcoin achieved a new all-time high above $58,000 before experiencing a drop to below $44,000. However, since the beginning of the month, Bitcoin’s price has been rebounding steadily.

According to Naeem Aslam, chief market analyst at Avatrade, Bitcoin has overcome most of its obstacles and is now out of the “trouble zone.” Aslam predicts that the next target for Bitcoin’s price is the all-time high, with potential further gains towards $70,000.

Institutional Adoption Boosts Bitcoin’s Rally

Bitcoin has experienced a remarkable rally of over 350% since last October, largely driven by increased institutional investor adoption. Companies like Square and Tesla have made significant investments in Bitcoin, with Square investing over $200 million in the cryptocurrency and Tesla disclosing a $1.5 billion investment.

Mainstream financial institutions are also entering the cryptocurrency market, with UK asset manager Ruffer allocating 3% of its assets to Bitcoin and Goldman Sachs restarting its trading desk for the digital asset.

Bitcoin’s Tipping Point

Citi recently suggested that Bitcoin could be at a “tipping point,” indicating growing acceptance and adoption of the cryptocurrency. However, the bank’s research note has faced criticism over its sourcing and the accuracy of its data.

As Bitcoin continues to gain traction among institutional investors and mainstream financial institutions, its value and significance in the global financial landscape are likely to continue increasing.

In a landmark move for the Asian financial market, Hong Kong witnesses the inaugural trading of six spot bitcoin and ether exchange-traded funds (ETFs) amidst cautious investor sentiment.

The introduction of the first spot cryptocurrency ETFs in Asia comes on the heels of a similar move in the United States, with Tuesday’s trading marking a pivotal moment for the region’s cryptocurrency investment landscape. Despite Hong Kong’s positioning as a burgeoning digital asset hub, mainland China’s cryptocurrency ban casts a shadow over the potential enthusiasm for such ventures.

Mixed Results on Debut

The six ETFs experienced a mixed reception on their debut day, with spot bitcoin ETFs launched by China AMC, Harvest, and Bosera gaining modestly between 1.5% and 1.8% at the close. In contrast, the three ether ETFs saw marginal declines. Bitcoin, the bellwether cryptocurrency, also experienced a slight dip of over 1%.

Moderate Turnover and Issuer Confidence

Total turnover for the debut day amounted to approximately $112 million, significantly lower than the impressive $4.6 billion recorded during the initial trading of U.S. spot bitcoin ETFs. However, issuers remain optimistic, citing substantial pre-listing interest from both crypto enthusiasts and traditional investors. China AMC’s bitcoin ETF led the pack with an initial size of HK$950 million ($121 million), underscoring significant investor confidence.

Regulatory Caution

While celebrating the milestone, Christina Choi, an executive director of the Securities and Futures Commission (SFC), urged caution, highlighting the speculative and volatile nature of virtual assets. Choi emphasized the unsuitability of such investments for all investors, echoing broader regulatory concerns regarding cryptocurrency trading.

Hong Kong-US Crypto Competition

The launch of Hong Kong’s ETFs positions the region in direct competition with the United States for crypto investor attention. Despite U.S. ETFs attracting approximately $12 billion in net inflows and contributing to bitcoin’s earlier price surge, regulators in the U.S. have yet to greenlight ETFs tracking spot ether prices.

Local industry players anticipate substantial growth in Hong Kong’s spot crypto ETF market, potentially reaching 20% of its U.S. counterpart within a year. Han Tongli, CEO of Harvest Global Investments, believes Hong Kong holds greater potential than the U.S., given its ability to attract investors from both the Western and Eastern markets.

Innovative Transaction Mechanisms

A key differentiator of Hong Kong’s ETFs is their adoption of the “in-kind” transaction mechanism, allowing investors to trade ETF shares using crypto tokens instead of cash. This feature may appeal to investors seeking to avoid conversion costs, potentially driving initial inflows from local retail investors.

Challenges and Opportunities

However, challenges remain, notably the higher management fees of Hong Kong’s crypto spot ETFs compared to their U.S. counterparts due to regulatory constraints. With only two approved trading platforms currently operating in Hong Kong, analysts anticipate cost concerns may initially limit institutional participation.

Despite these hurdles, bitcoin has demonstrated resilience, with a 50% increase in value this year, hitting an all-time high of $73,803 in March. Ether has also seen significant gains, rising over 30% year-to-date, suggesting continued investor interest in cryptocurrency assets.

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on applications for spot Bitcoin exchange-traded fund (ETF) options. The regulator cited the need for public input before proceeding with the approval process.

Request for Public Comment

In a recent filing, the SEC announced the postponement of its decision on launching options trading for Bitcoin ETFs, inviting public comments on the matter. Comments are requested within the next 21 days, with rebuttals due within 35 days. The agency has raised questions regarding whether options on spot Bitcoin ETFs should be subject to the same regulations as stocks.

Exchanges Apply for Options Trading

Several exchanges, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, and NYSE American LLC, have applied to allow options trading on recently approved spot Bitcoin ETFs.

Delay in Consideration of Grayscale and Bitwise Applications

The SEC also postponed consideration of Grayscale and Bitwise’s applications to launch Bitcoin options ETFs. The regulator deemed it necessary to extend the review period, with the next deadline set for May 29.

Grayscale CEO Advocates for Options Market

As we look ahead, I think it’s never been more important for the #crypto and ETF communities alike to advocate for the development of a robust listed options market for spot #bitcoin ETFs. Although $GBTC has been in the public market since 2015, it was never accompanied by listed…

— Sonnenshein (@Sonnenshein) February 5, 2024

Grayscale CEO Michael Sonnenshein has emphasized the importance of launching an options market for spot Bitcoin ETFs. Sonnenshein believes that such a product would benefit both retail and institutional investors, although he acknowledges the complexity involved in gaining SEC approval.

The delay in the SEC’s decision on Bitcoin ETF options reflects ongoing uncertainty surrounding the regulatory framework for cryptocurrency investment products. As exchanges await regulatory clarity, industry stakeholders continue to advocate for the introduction of innovative financial instruments to the market.

The DOG•GO•TO•THE•MOON (DOG) meme coin has experienced a meteoric rise in its market cap, reaching $336 million following a recent airdrop through the Runes protocol. This event has propelled DOG to the forefront as the most widely held Runes token to date.

Airdrop to Ordinals Holders Boosts DOG’s Holder Count

DOG, a Bitcoin meme coin created via the Runes protocol, was airdropped to holders of the Runestone Ordinals project, instantly elevating its status as the most widely held Runes token. The airdrop saw DOG holders surpass 74,000, marking a significant milestone in the Runes ecosystem.

Luminex Data Highlights DOG’s Dominance

According to data from minting and etching platform Luminex, DOG has become the Runes token with the highest number of holders since the launch of the protocol. With over 74,000 holders, DOG surpasses other tokens like RSIC•GENESIS•RUNE, which boasts nearly 22,000 holders.

Significant Trading Volume on Magic Eden

Despite its humble beginnings, DOG has garnered substantial attention on the secondary market. On the Runes marketplace Magic Eden, DOG has recorded a one-day trading volume of 53.1 BTC, equivalent to approximately $3.4 million. Since its launch, DOG has seen a total trading volume estimated at $10 million.

Check your wallets!

100,000,000,000 $DOG has been successfully airdropped to Runestone holders.

Shoutout to giga-chad volunteer community member @gm7t2 for flawlessly executing it.

The journey to $1 has begun 🐕🚀🌕 pic.twitter.com/XPL7q6m7VG

— Leonidas (@LeonidasNFT) April 24, 2024

The top five wallets holding DOG collectively possess nearly 10% of the total token supply. On the secondary market, DOG has a floor price of 5.28 sats, translating to approximately $0.003 worth of BTC. With a market capitalization of approximately $336 million, DOG has emerged as a significant player in the Runes ecosystem.

Curious Names Reflect Runes Protocol Standards

The peculiar names associated with Runes tokens, including DOG, are a result of the minimum length requirement encoded in the protocol to prevent name squatting. As more Bitcoin network blocks are processed, this length requirement will gradually decrease over time.

The surge of DOG•GO•TO•THE•MOON following the Runes airdrop underscores the growing popularity of meme coins within the crypto community. With its impressive holder count and substantial trading volume, DOG has cemented its position as a prominent player in the evolving landscape of decentralized finance.

The long-awaited European debut of Strike, a popular Bitcoin and Lightning Network payments app, has been announced, marking a significant milestone in the region’s cryptocurrency landscape. The platform’s arrival enables eligible individuals and businesses across Europe to seamlessly buy, sell, send, withdraw Bitcoin, and make local currency payments.

Addressing European Demand: “Wen Europe?”

European Bitcoin enthusiasts have eagerly awaited Strike’s arrival, prompting inquiries about its launch timeline. In response to the community’s anticipation, Jack Mallers, founder and CEO of Strike, emphatically declared, “Now!” The European launch follows extensive preparations and user sightings on app stores in select countries before the official announcement.

Key Features for European Users

Strike’s custodial iOS and Android app offers a range of features tailored to European users’ needs. Individuals can purchase Bitcoin directly with free unlimited SEPA euro deposits from their bank accounts, with instant availability where supported. Additionally, users can schedule recurring purchases, enhancing accessibility and convenience.

Seamless Bitcoin Transactions

Customers have the flexibility to sell Bitcoin and withdraw funds to their bank accounts or self-custodial wallets. They can also make payments over the Bitcoin or Lightning Network without limitations, facilitating efficient peer-to-peer transactions and promoting wider adoption of cryptocurrency.

Utilizing Lightning Network for Fast and Cost-Effective Payments

Strike leverages the Lightning Network to facilitate fast and cost-effective micropayments. All Strike customers are assigned a Lightning Address, simplifying the process of receiving payments. Users can receive payments in Bitcoin or euros, with automatic conversion for the latter, enhancing usability and versatility.

Global Peer-to-Peer Transfers and Remittances

European users can leverage Strike’s global peer-to-peer transfers via Lightning, enabling instant transfers to friends’ Strike accounts worldwide. The app supports various currencies, including euros, U.S. dollars, and USDT, offering flexibility and convenience in cross-border transactions. Moreover, Strike’s “Send Globally” feature facilitates fast and low-cost local currency remittances to supported regions, including Africa, Brazil, the Philippines, Mexico, and Vietnam, using Bitcoin’s Lightning Network as a global payment rail.

Strike’s Expansion and Vision

Strike’s expansion into Europe marks another milestone in its rapid global growth. With availability in over 70 countries, Strike is poised to capitalize on Bitcoin’s potential to reshape the global financial landscape. Mallers emphasizes Bitcoin’s transformative impact on financial inclusion and its ability to address pressing global challenges, positioning Strike as a leading platform for Bitcoin adoption in Europe and beyond.